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These days, finding an affordable place to live in the Monument area can be challenging. Home prices in Monument are now at a median cost of $234,852, lower than the New Mexico average of $265,486.
The average cost of rent is $1,101/mo in Monument, primarily driven by the current value of real estate in the Monument area. In Monument, 40.54% of households rent, and 73.76% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monument is $7,637 per month. Households that rent pay about 14.41% of their income on rent here. Monument’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Nadine, NM: less expensive homes
- Hobbs, NM: less expensive homes
- North Hobbs, NM: higher priced homes
- Knowles, NM: less expensive homes
- Seminole, TX: equally priced homes
- Florey, TX: higher priced homes
- Sand, TX: equally priced homes
- Lakewood, NM: less expensive homes
- Atoka, NM: less expensive homes
- Seven Rivers, NM: less expensive homes
Cities with Similar Populations
- Sherwood, TX: equally priced homes
- Lavaca, AL: less expensive homes
- Lawco, OH: less expensive homes
- Lawrenceville, NY: less expensive homes
- Layton, FL: higher priced homes
- Leaf Valley, MN: higher priced homes
- Leck Kill, PA: equally priced homes
- Lewisburg, LA: higher priced homes
- Seneca Hill, NY: less expensive homes
- Sheldon, SC: higher priced homes
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